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...died of starvation in 1981 at Belfast's Maze prison. She pursued an austere, rigidly monetarist economic line, and when members of her Cabinet protested about the pain it was causing many Britons, she forced out a number of these "wets," her term for the irresolute. Says former Labor Prime Minister Sir Harold Wilson, 67, who retired from politics last month after 38 years in Parliament: "Mrs. Thatcher's image is that of the toughest...

Author: /time Magazine | Title: Thatcher Triumphant | 2/18/2008 | See Source »

...Prime Minister's success in defusing the unemployment issue is doubly impressive because the economic experiment called Thatcherism is, by her reckoning, only halfway completed. Upon coming to power in 1979, she reduced income taxes (the top rate fell from 83% to 60%), raised the value-added tax (a levy on goods and services) 8% to 15% and sharply cut public spending. Thatcher's top priority was righting inflation. That was a reversal of traditional British postwar economic policy, which held full employment as the primary objective. To curb price rises, she cut public spending at a time when rising...

Author: /time Magazine | Title: Thatcher Triumphant | 2/18/2008 | See Source »

Just as the Prime Minister has changed the course of British economic policy, she has altered the shape of the nation's politics, especially within the Conservative Party. Fading fast is the image of the Tories as the private preserve of landed gentlemen who went to the right schools, believe in moderation, and carry a certain sense of noblesse oblige toward the lower classes. Thatcher has taken the party out of the hands of the gentry and turned it over to people like herself who have worked their way up in the world and who sometimes see a sense...

Author: /time Magazine | Title: Thatcher Triumphant | 2/18/2008 | See Source »

...stirs the hearts Of many with her call for a return to capital punishment and greater powers for the police. Thatcher has become, according to Tory M.P. Julian Critchley, the spokeswoman for a new middle class, "the Rotarians of Grantham who, dissatisfied with much that they see, welcome the Prime Minister's call for radical change...

Author: /time Magazine | Title: Thatcher Triumphant | 2/18/2008 | See Source »

...Cabinet session, with Mrs. Thatcher at the center of the boat-shaped table. She hurries the ministers briskly along, rarely allowing any departures from the agenda. When Parliament is in session, she spends the mornings with her staff readying for question time, that twice-weekly exercise in which the Prime Minister fields queries, and often insults, from opposition M.P.s. A cook is brought in on question days to prepare what Thatcher calls "good nursery food" (shepherd's pie, or perhaps a stew), and the staff works until 2:30 p.m., when the Prime Minister leaves for Parliament in her bulletproof...

Author: /time Magazine | Title: Thatcher Triumphant | 2/18/2008 | See Source »

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